"After looking at all the facts we decided to launch the car on the market in the second half of 2005 at the earliest," said Thomas Bscher, who has been president of Bugatti since December 2003.
After technical problems with the 1,001hp Veyron, Bugatti's previous boss Karl-Heinz Neumann postponed the market launch to April 2004.
Bscher explained that "problems with the package" were the main reason for the latest delay in the prestige launch.
Because of tight space in the 4.47 meter-long sports car with its 16-cylinder engine, the test cars had put hydraulic pumps beneath the vehicle seats, but Bscher won't accept that for the production cars that will sell for 1 million euros each.
"We will not use such emergency solutions for customer vehicles," he said.
The Bugatti plant in Molsheim, Alsace, is sticking to its original announcement that the Veyron will manage a maximum speed of 400kph.
Bscher confirmed that Bugatti is considering a second model series.
"One can not make any money with only one vehicle type," said the ex-manager of the Sal bank of Oppenheim.
So far the VW board has not made any decision, "but should Bugatti build an additional model range it will not be quite as extreme as the Veyron."
A further Bugatti model range might be spacious enough for four people plus luggage but will probably have significantly less than 1,000hp.
"With the next model series we would definitely try to make more use of VW developments, such as materials and structural elements," said Bscher. He added that a racing car version of the Veyron is out of the question.